Marketing your business, like dating, is a delicate act. If you want to find success, you have to follow a specific set of rules. You wouldn’t dream of asking your dinner date to marry you before the appetizer even arrives, so why would you try to convert a potential client you barely met? Enter the lead magnet.
A lead magnet is a free, high-value asset offered to your ideal client in exchange for a pathway to start building a relationship. In this post, we will talk about the critical components of a good lead magnet and how to create one that nurtures your client relationships and builds brand awareness, leading to more conversions later on.
What is a Marketing Funnel?
In Marketing 101, you may have learned about the marketing funnel and the different stages of the buyer’s journey. Like the dating scenario we discussed above, you can’t skip past the awareness stage and straight to conversion without scaring quite a few people off. Your ultimate goal is to establish yourself as an industry thought leader in the minds of your ideal clients.
Branding and marketing your business will be much more successful with consistency and awareness of which stage your potential client is at. Let’s recap what each stage of the funnel looks like.
- Awareness Stage – This is where you grab your audience’s attention and pique interest in your product or service. This is where a high-quality lead magnet comes into play.
- Interest Stage – Capitalize on the interest your lead magnet generates and demonstrate your value and garner interest.
- Appraisal/Desire – Focus on your prospect’s interest in a specific offering.
- Action/Confirmation – Convince your prospect to make the leap.
- Conversion – Your prospect is now a client. You will continue to nurture your relationship from here.
Knowing that a lead magnet lives in the Awareness Stage of your marketing funnel, you aren’t asking for a commitment just yet. Therefore, your CTA should lead a prospect to learn more about you in a no-pressure environment. This is your opportunity to demonstrate your value and nurture your budding relationship.
Steps to Create a High-Quality Lead Magnet
You can create your own high-quality lead magnet by following three simple steps. Each of these steps is essential to create a lead magnet that engages with your prospect in a meaningful way.
- Tailor it to Your Audience
The most important thing you can do before you even start putting lead magnets out there is to establish exactly who your ideal client is. If your prospect were your best bud, you would know things like their demographics, profession, the challenges they face, the things they enjoy (activities, foods, vacations, and sports), and their preferred form of communication. Take the time to know these things about your prospect so your message and delivery hit home.
2. Create Valuable Content
The quickest way for your lead magnet to fall flat is by creating a crummy piece of content. Your lead magnet is the first piece of value you bring to a prospect, and if it doesn’t have any real value, you’re dead in the water. That’s why the first stage is so important. If you genuinely know your prospect’s pain points and how to deliver a solid solution in a format they can digest, you will lead them to the next stage.
You should ask yourself questions like:
- What problems or big questions can I address?
- What level of information should I provide (beginner, intermediate, advanced)?
- What format should I use (written, video, audio, or other)?
- Am I skilled enough to execute my chosen format, or should I enlist some help?
3. Determine Delivery System and Style
Typically, your lead magnet lives on your website or social media page. Doing your homework in the first step will help you determine how best to deliver your lead magnet to your ideal client. Will they fill out a form on your website? Will an email with a link to the lead magnet be triggered by the submission of this form? Will any additional email follow ups be sent after receipt of the lead magnet? Will you track whether they open or click inside the email? How?
Another important note about your delivery system in style is to stay on brand with your lead magnet. Use your brand colors, logos, and fonts in all content. This establishes brand recognition, and provides a sense of continuity to your new potential client.
Examples of Good Lead Magnets
The goal of a lead magnet is to attract new eyes to your brand and create new pathways to nurture relationships with potential clients and customers. Some examples of lead magnets that bring value to your prospect include the following:
- EBook
- Webinar
- Checklist
- Guide
- Calculator
- Whitepaper
- Investor Deck
- Template
- Informational video
- Podcast
Key Takeaways
- A lead magnet is a free, high-value asset offered to your ideal client in exchange for a pathway to start building a relationship.
Know who your ideal client is before you start. - A crummy lead magnet won’t do you any favors, so follow each step to create one that is high value and high quality to your audience.
- Outsource to another professional if your chosen delivery method is outside of your wheelhouse.
Do you have additional questions about how to create high-quality lead magnets?
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